Entries by Alex - Chart Freak

Friday The 13th ( Of May )

May 13, 2016 /55 Comments/in /by

This is my  "It's Friday and I dont usually do reports on Friday" report. Whenever Thursdays action raises questions that can't wait until the weekend, I do a Friday report.

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SPX - This was yesterdays chart. We likely saw a DCL last Friday with the reversal at the 50sma. AS LONG AS THOSE LOWS HOLD, the DCL is in place. Even if it goes sideways for days above the dcl, like the red circle that I drew above the Jan DCL, nothing has changed. 

SPX 5-11

SPX Thursday - Nothing has outwardly changed yet, but this is looking weak. Volume increased a bit, the MACD looks weak, and the hrly charts look weak.  If this breaks down, that H&S measures a move down to the 200sma. Do I expect that?

SPX 5-12

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MAY 12 – Timing

May 12, 2016 /63 Comments/in /by

After a brief market review, I want to point out something that seems to be telling me that now is the time to act. Lets begin...

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SPX - Price was rejected at the upper trend line, and it dropped down to the 10sma. The Red Circle shows that shortly after prior DCLs, price did the same thing.  A drop below the dcl would not be healthy, the first daily cycle would be extending way too far and I would be suspicious.

SPX 5-11

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From here I'm going straight to OIL, NATTY, and The CRB...

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It Happens

May 11, 2016 /82 Comments/in /by

Have you ever  been thrown off of a Bull?  Maybe your stop was triggered only to see that stock turn and move higher.  What can you do? We'll discuss that after a quick market review.

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SPX -  This was my May 5th chart.  I have been pointing out that the SPX  ( And general markets) are due to rally. 

SPX 7-7

SPX as of Tuesday - That is what we see happening as the markets were green for the past 3 days.

SPX 5-10

 

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MAY 8 Weekend Report

May 8, 2016 /126 Comments/in /by

We will discuss the Theme Picture later in the report, lets get right into our market review...

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SPX - We are expecting and late for a DCL.  The SPX tagged the 50sma and put in a small reversal candle. I believe that we are about to get a move higher.

SPX 7-7

That calls for a look at the bigger picture...

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MAY 5 – Perspective And Emotions

May 6, 2016 /88 Comments/in /by

Our  perspective on certain things can affect our emotions.   Isn't it true that how we view things often changes the way we feel about them?  Especially if there are two sides to a story?  🙂   Well it can be that way with trading too.  We can look at a long term bullish chart and see it as 'horrible'  if it is pulling back below our buy point.  The faces in the Theme picture above could very well be the many faces of trading, so I am going to discuss  perspective and emotions.

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If I show you this stock and simply ask,  " Is this chart Bullish or Bearish?"   How do you answer?

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BULLISH, right?  It has run up 300%, its in a channel of higher lows and higher highs, and has just pulled back from $14 to basically $11.50.

CHART BULLISH

 

Perspective : I am being told that this is one dreadfully ugly chart.  If you bought at $4, you may love it,  but if you bought it at $12, $13, or even $14?  It has been nothing but volatile.

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So you see, it is a matter of perspective...

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That chart above  is FCX, and anyone who bought it in the past week may not be as happy as those that bought it lower.  Lets zoom in. Please read the chart.

FCX 5-5

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May 3 – Baskets

May 4, 2016 /115 Comments/in /by

I dont know about you, but trading on Tuesday had me feeling like my basket had some dogs in it. Is that truly the case?  Lets take a look...

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SPX- CNBC was very concerned about the markets selling down today, but this chart is not bearish at this point.It keeps selling down and then being bought back, and that leads to a sideways move so far.

SPX 5-3

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May 2, 2016 Update

May 3, 2016 /134 Comments/in /by

Not a whole lot has changed from the weekend report, but we can still review  our information and update our outlook if needed.

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SPX - This was from the weekend report.  Notice that either cycle count that I had in place showed that it was late in the 1st daily cycle. We are due for a DCL and the start of the 2nd daily cycle may have already occurred on day 38 or Friday with that reversal.

SPX 4-29

 

So here is the SPX from Monday ...

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May 1 Weekend Report

May 2, 2016 /80 Comments/in /by

Week after week we are seeing very good action and even fairly clear predictability in the various sectors. We have experienced some great gains in Miners, Energy, and Commodities for all of 2016.  I have to keep reminding myself, and so I want to remind the readers here too, that pull backs and corrections are expected and keep a market healthy. Lets review our markets and discuss that idea further. 

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I'll start with the NASDAQ WKLY  - The NASDAQ hasn't been as robust in its recovery as the SPX.  It almost looks to be rolling over,  so lets keep an eye on it.  

NAZ 4-29WKLY

The SPX Daily  began  rolling over, but I see bullish signs too. Remember that corrections and pull backs can be healthy.  Is this a healthy pull back?

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